Reuters Saqib Ahmed et al. quoted Matt Amberson of ORATS in a brief but essential phenomenon in the AMC exponential rise in its stock price: Market makers are chasing the stock. The Reuters article is here.
As gamma from short options gets them short delta, market makers will buy the stock to get delta neutral.
The character of AMC in this time is different from January's short squeeze-fueled meteoric rise. We see this with the Borrow that ORATS implies from the options market seen below.
Susquehanna and Citadel are large holders of AMC stock according to Bloomberg. As retail buyers of calls get longer delta, market makers need to buy the underlying to keep delta neutral.
Picture from @MichaelGoodwell Twitter.